Marvell Technology, Inc. (NASDAQ:MRVL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Marvell Technology, Inc. (NASDAQ:MRVL) have earned a consensus rating of “Moderate Buy” from the twenty-six analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and twenty-four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $119.04.

A number of brokerages recently issued reports on MRVL. Oppenheimer upped their price objective on shares of Marvell Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. TD Cowen raised their price target on shares of Marvell Technology from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $125.00 price target (up previously from $114.00) on shares of Marvell Technology in a research report on Wednesday, December 4th. KeyCorp increased their price objective on Marvell Technology from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on Marvell Technology from $87.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 5th.

Marvell Technology Trading Down 10.0 %

Shares of MRVL stock opened at $112.25 on Wednesday. Marvell Technology has a fifty-two week low of $53.19 and a fifty-two week high of $126.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.11 and a current ratio of 1.60. The stock’s fifty day moving average is $91.00 and its two-hundred day moving average is $77.15. The firm has a market capitalization of $97.13 billion, a P/E ratio of -66.03, a PEG ratio of 3.72 and a beta of 1.46.

Marvell Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Friday, January 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Friday, January 10th. Marvell Technology’s dividend payout ratio is presently -14.12%.

Insider Buying and Selling

In other Marvell Technology news, EVP Mark Casper sold 2,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $70.83, for a total value of $177,075.00. Following the sale, the executive vice president now directly owns 22,494 shares in the company, valued at $1,593,250.02. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chris Koopmans sold 6,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $122.50, for a total value of $735,000.00. Following the transaction, the executive vice president now directly owns 97,244 shares of the company’s stock, valued at approximately $11,912,390. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $14,444,745 over the last 90 days. 0.33% of the stock is owned by insiders.

Institutional Trading of Marvell Technology

Several institutional investors have recently modified their holdings of MRVL. Davidson Kempner Capital Management LP raised its stake in Marvell Technology by 26.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 250,000 shares of the semiconductor company’s stock worth $17,482,000 after acquiring an additional 52,365 shares in the last quarter. Braun Stacey Associates Inc. acquired a new stake in shares of Marvell Technology during the third quarter worth about $16,435,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marvell Technology by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,261,887 shares of the semiconductor company’s stock valued at $235,247,000 after purchasing an additional 66,654 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Marvell Technology by 23.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,862,151 shares of the semiconductor company’s stock valued at $206,418,000 after purchasing an additional 535,203 shares during the period. Finally, Diversified Trust Co purchased a new position in Marvell Technology during the 2nd quarter worth approximately $932,000. Hedge funds and other institutional investors own 83.51% of the company’s stock.

Marvell Technology Company Profile

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.